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Is Bear Stearns a Big Part of Jim Cramer’s Portfolio?

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Or does just have an unusually—and unwarranted—sunny outlook on life and subprime? Or a little bit of both? As of yesterday, the Bears were still riding their red-hot 52-week low. Today, their shares fell as much as 7% following the Standard & Poor’s rating change from “stable” to “negative.” CEO James Cayne took the unusual step of coming into the office, where he signed off on a press release that took issue with the S&P’s move and claimed that the agency’s questions about Bear’s hedge fund problems were "unwarranted, as these were isolated incidences and are by no means an indication of broader issues at Bear Stearns."
After that little exercise in “you want to question our authority? Okay, well how about this—we’ll undermine your questioning of our authority by questioning your authority” shares of Bear bounced off their 52-week low of $106.55 to trade up to $113.83, prompting Thestreet to proclaim the Bears to be BACK BABY! Sign of the times—no longer falling precipitously = let’s get this party started.
Bear Stearns Bounces Back [thestreet .com]
Why Not to Short Bear Stearns Here [thestreet .com]